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Calumet to repurchase all 9 3/8% notes due 2019 via new offering
By Tali Rackner
Norfolk, Va., March 26 - Calumet Specialty Products Partners, LP plans to fund the redemption of all $500 million of its outstanding 9 3/8% senior unsecured notes due 2019 with the proceeds from a notes sale, according to a press release.
Proceeds will also be used to fund the roughly $235 million purchase price of its previously announced pending acquisition of ADF Holdings, Inc., the parent company of Anchor Drilling Fluids USA, Inc., and for general partnership purposes, including planned capital expenditures at its facilities.
Indianapolis-based Calumet is a producer of high-quality specialty hydrocarbon products and fuel products.
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